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<br />DF.S:djg-c 7/19/84 <br /> <br />1. This Council does hereby authorize participation of the <br /> <br />City of Redwood City on an unofficial committee (the "Cormnittee") <br /> <br /> <br />consisting primarily of school districts and municipal entities, <br /> <br /> <br />and also including other creditors that engaged in repurchase <br /> <br /> <br />agreements with RTD, which agreements remain open and cannot be <br /> <br />completed by virtue of RTD's bankruptcy. <br /> <br /> <br />2. Retention of ARKO by the Committee is hereby approved <br /> <br /> <br />for the purposes set forth in the paragraph next following, and <br /> <br />this Council does hereby approve payment of ARKO's fees pursuant <br /> <br /> <br />to the following arrangement, to wit: upon any distribution from <br /> <br />any funds now or hereafter included in the bankruptcy estate of <br /> <br /> <br />RTD, each of the members of the Committee shall contribute <br /> <br /> <br />pro-rata from its distributive share to the payment of ARKO's <br /> <br /> <br />fees and disbursements, such pro-rata contribut_ion t.o be based <br /> <br /> <br />upon the respective principal investment of each such Committee <br /> <br />merr~er in repurchase agreements between said Committee member and <br /> <br /> <br />RTD; provided, however, that such fee arrangement shall not be <br /> <br /> <br />deemed approval by the City of Redwood City of any other pro-rata <br /> <br />payment or distribution with <br /> <br />respect <br /> <br />to <br /> <br />said bankruptcy <br /> <br />proceedings including, but not limited to, distribution of any <br /> <br /> <br />assets or other property in the bankruptcy estate. <br /> <br />3. ARKO is hereby authorized and directed to proceed with <br /> <br />negotiations with RTD respecting a resolution of the RTD case <br /> <br /> <br />along the following general lines: <br /> <br /> <br />i. the inspection by the creditors of RTD <br /> <br />2 <br />